Arthur J. Gallagher & Co. $AJG Shares Purchased by Tredje AP fonden

Tredje AP fonden lifted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 37.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,212 shares of the financial services provider’s stock after buying an additional 30,000 shares during the quarter. Tredje AP fonden’s holdings in Arthur J. Gallagher & Co. were worth $33,827,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Arthur J. Gallagher & Co. during the second quarter worth $1,536,230,000. JPMorgan Chase & Co. raised its stake in Arthur J. Gallagher & Co. by 19.6% during the third quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider’s stock worth $6,299,674,000 after purchasing an additional 3,330,205 shares during the period. Sands Capital Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 453.3% in the second quarter. Sands Capital Management LLC now owns 1,121,249 shares of the financial services provider’s stock valued at $358,934,000 after acquiring an additional 918,618 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Arthur J. Gallagher & Co. by 41,475.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 770,394 shares of the financial services provider’s stock worth $246,619,000 after purchasing an additional 768,541 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Arthur J. Gallagher & Co. by 2.3% in the second quarter. Vanguard Group Inc. now owns 31,096,542 shares of the financial services provider’s stock worth $9,954,625,000 after acquiring an additional 685,278 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Douglas K. Howell sold 5,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $258.05, for a total value of $1,290,250.00. Following the transaction, the chief financial officer owned 95,777 shares in the company, valued at $24,715,254.85. This trade represents a 4.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Walter D. Bay sold 15,850 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the sale, the general counsel owned 79,549 shares of the company’s stock, valued at $20,284,995. This trade represents a 16.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,850 shares of company stock valued at $6,364,440 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler lowered their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $249.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Saturday. Evercore decreased their target price on Arthur J. Gallagher & Co. from $353.00 to $334.00 and set an “outperform” rating for the company in a research note on Wednesday, December 17th. Needham & Company LLC set a $272.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Thursday, December 18th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 31st. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and an average price target of $284.12.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $216.54 on Friday. The firm has a market cap of $55.67 billion, a PE ratio of 35.21, a PEG ratio of 1.18 and a beta of 0.66. Arthur J. Gallagher & Co. has a twelve month low of $195.00 and a twelve month high of $351.23. The firm’s 50 day moving average price is $246.39 and its 200 day moving average price is $268.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.03. The company had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The business’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 earnings per share. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.3%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, March 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is 42.28%.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.